Emerson Electric Co. $EMR Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. decreased its position in Emerson Electric Co. (NYSE:EMR) by 85.5% during the third quarter, HoldingsChannel.com reports. The firm owned 198,425 shares of the industrial products company’s stock after selling 1,169,512 shares during the quarter. Phoenix Financial Ltd.’s holdings in Emerson Electric were worth $30,779,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Emerson Electric during the 2nd quarter valued at about $6,193,425,000. State Street Corp lifted its stake in shares of Emerson Electric by 1.5% in the second quarter. State Street Corp now owns 27,678,497 shares of the industrial products company’s stock worth $3,962,177,000 after buying an additional 403,957 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Emerson Electric by 13.1% during the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company’s stock valued at $2,612,780,000 after buying an additional 2,302,055 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Emerson Electric by 9.6% during the third quarter. Fisher Asset Management LLC now owns 10,327,433 shares of the industrial products company’s stock valued at $1,601,785,000 after buying an additional 900,724 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Emerson Electric during the second quarter valued at approximately $659,000,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EMR shares. KeyCorp boosted their price objective on shares of Emerson Electric from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Weiss Ratings upgraded Emerson Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Evercore reduced their target price on Emerson Electric from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Monday, August 31st. Wall Street Zen cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, DA Davidson boosted their price objective on shares of Emerson Electric from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average target price of $175.58.

Emerson Electric Stock Performance

NYSE:EMR traded down $0.66 on Friday, hitting $166.26. The stock had a trading volume of 1,873,643 shares, compared to its average volume of 3,114,572. The stock has a market cap of $91.21 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.34 and a beta of 1.23. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $159.58 and its two-hundred day simple moving average is $148.08. Emerson Electric Co. has a 52-week low of $122.64 and a 52-week high of $172.00.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.01. Emerson Electric had a return on equity of 18.08% and a net margin of 14.15%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the company posted $1.62 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that Emerson Electric Co. will post 7.37 earnings per share for the current year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a dividend of $0.5950 per share. This represents a $2.38 annualized dividend and a yield of 1.4%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.5550. The ex-dividend date is Friday, November 13th. Emerson Electric’s dividend payout ratio (DPR) is presently 46.44%.

Emerson Electric Company Profile

Emerson Electric Co. is a global technology and engineering company focused on automation. It develops products and systems that help industrial and commercial customers monitor and control operations, including measurement instruments, control systems, valves, actuators, and industrial software. The company serves customers across industries and regions worldwide. Its portfolio includes technologies for process and factory automation, as well as software used to design, operate, and optimize industrial facilities.